Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1628 Signature Drive Weatherford, TX 76087

4 Beds 2 Baths 2,400 sqft Built 2016

$299,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $124.96
  • 3 Days on Market
  • MLS # : 14484934
  • Updated Date : 12/12/2020 at 16:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,400 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

**OPEN HOUSE SUNDAY 1PM - 3PM - WINE GIVEAWAY**Custom feel home located in the desirable Mary Martin Elementary! Featuring wood floors, wood burning fireplace, crown molding & upgrade trim. The kitchen boasts granite countertops, stone tile backsplash, & matching appliances. Notice the oil rubbed bronze faucets & hardware throughout the home. Spacious dining room for a growing family. Kitchen overlooks the living area anchored by a gorgeous fireplace. Spacious master with separate shower & tub. Massive media room upstairs features 100-inch screen with projector. Outdoor living area features built-in grill, fire pit, & refrigerator. Perfect for the entertainer. Community pool & playground included with HOA.

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Mary Martin Elementary School Primary Regular 590 34 5
Mary Martin Elementary School Middle Regular 590 34 5
Weatherford High School High Regular 2,238 148 6

Mary Martin Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Mary Martin Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,107
Property Tax -$638
Property Insurance -$166
HOA -$37
Property Management Fees -$99
CASH FLOW
$124

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$27,229

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,170

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,142

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,919
1$1,9192$1,9253$2,0504$2,1705$2,195
$2,195
RENT COMPS ANALYSIS
  • 1628 Signature Drive Weatherford, TX 4
    • 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.90
    •  
  • 621 Saddle Ridge Trail Weatherford, TX 1
    • 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2005
    property image
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,919
    • $0.87
    •  
  • 612 Sage Brush Drive Weatherford, TX 2
    • 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.87
    •  
  • 2222 Old Foundry Road Weatherford, TX 3
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2003
    property image
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 1540 Stetson Drive Weatherford, TX 5
    • 3 beds 3 baths ∙ 2,416 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,416 Sqft ∙ Built 2012
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
PROPERTY LISTING DETAILS
Corey Daniel
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484934
Last Updated: 12/12/2020
BESbswy